Looking for lenders

[pirateat4O]

The Business:
Over the last few months I have been selling BTC to a group of local people.  Now this is a don't ask don't tell group of people so I can't tell you exactly where and to whom the coins ultimately end up with but so far its been pretty painless.   During this last week I maxed out my available coins both personally and "leased" from other members and they needed a lot more.  Up until now, I have dealt with my core group of friends and been able to handle the requests, but they seem to be getting larger and more frequent.  So now I'm looking into other methods for keeping a consistent storage or on-demand availability of coins.  I have two plans available for those sitting on coins.

On-Demand
When an order comes in that is over what I have available I'll send out a request to users in this plan requesting the total needed.  The first to respond gets the deal and the transfer is made.  These coins will be tide up for 1 business day to give me enough time to settle the transaction and acquire the coins to return. This plan pays a flat 3.5%.

Storage
This plan works as an ongoing commitment.  You would send coins anytime to the address provided and you would earn interest on a daily basis.  You can withdraw your balance at anytime, but I do request that you give me a couple hours to insure I have coverage for the next order.  Interest payments are paid out ever 3 days until either you withdraw the funds or my local dealings dry up and I can no longer be profitable. This plan pays 1% per day.

Now I would hope to have enough people on the storage plan that I wouldn't have a need for the on-demand but I'll see how it goes.  I ultimately want the ability to provide coins at anytime and any amount for these guys and we can all share in the profits.

I've created my own custom management software that I've built to monitor deposits, withdraws and interest payments.  As this gets bigger I'll build a front end for it so users can view and manage there account and maybe putting that domain btclending.com to good use. 

For more information send me a PM or just ask below.  You can check out my OTC ratings in my signature.

Edit: I forgot to mention that dealing with anything less than 50BTC is more work than its worth so I've made that the minimum on both plans.

Thanks

[Lohoris]

Are you the same pirate40 that scammed lots of people?

[pirateat4O]

Are you the same pirate40 that scammed lots of people?

If it were, people would have already known it was and I would have wasted my perfect OTC ratings.

[Lohoris]

http://bitcoin-otc.com/viewratingdetail.php?nick=pirateat40

Bitcoin Savings & Trust scam, the same you have in your signature.

I'm quite puzzled however: since it is known you are a scammer, why would you come back with the same name?
I guess it's a joke, instead.

[pirateat4O]

http://bitcoin-otc.com/viewratingdetail.php?nick=pirateat40

Bitcoin Savings & Trust scam, the same you have in your signature.

I'm quite puzzled however: since it is known you are a scammer, why would you come back with the same name?
I guess it's a joke, instead.

Agreed

[🏰 TradeFortress 🏰]

Something to chew on, send me details on how this works exactly, I'm interested in tracking my investment day to day which it sounds like you will be able to provide.

[pirateat4O]

Something to chew on, send me details on how this works exactly, I'm interested in tracking my investment day to day which it sounds like you will be able to provide.

I don't have a front end (website) for the tracking software yet but im working on it.  For now, you will receive the interest payments as well as a snapshot of your transactions (deposits/withdraws), dates, balance and interest paid.

[John (John K.)]

http://bitcoin-otc.com/viewratingdetail.php?nick=pirateat40

Bitcoin Savings & Trust scam, the same you have in your signature.

I'm quite puzzled however: since it is known you are a scammer, why would you come back with the same name?
I guess it's a joke, instead.

Are you the same pirate40 that scammed lots of people?

pirateat4O

[keatonatron]

Do you think he saw the publicity Pirate had -- but not the threads where Pirate disappeared and the sham was revealed -- then noticed Pirate hasn't been around and wanted to assume his place?

[pirateat4O]

Do you think he saw the publicity Pirate had -- but not the threads where Pirate disappeared and the sham was revealed -- then noticed Pirate hasn't been around and wanted to assume his place?

I've already been doing this, just expanding.

[pirateat4O]

http://bitcoin-otc.com/viewratingdetail.php?nick=pirateat40

Bitcoin Savings & Trust scam, the same you have in your signature.

I'm quite puzzled however: since it is known you are a scammer, why would you come back with the same name?
I guess it's a joke, instead.

Are you the same pirate40 that scammed lots of people?

pirateat4O

I do, between orders I trade bitcoins. My coins are part of the pot.

[Garr255]

Are you the same pirate40 that scammed lots of people?

If it were, people would have already known it was and I would have wasted my perfect OTC ratings.

Sorry to interrupt the satire, but this is too great. You're making me want to deposit with you hahahah

(For those of you who don't know this is the exact first response pirateat40 had on his BTCST thread )

Also...

Smart business strategy. By allowing us to take a portion of your profits from your overflow, you keep your customers happy and hooked to you, allowing you to grow your own investment.

Out of curiosity, about how many BTC/day is your demand exceeding your capacity right now?

[pirateat4O]

Smart business strategy. By allowing us to take a portion of your profits from your overflow, you keep your customers happy and hooked to you, allowing you to grow your own investment.

Out of curiosity, about how many BTC/day is your demand exceeding your capacity right now?

Currently I've got one order scheduled for tomorrow (1750BTC) and have it covered, but i'll know the next purchase when I meet with them.  In the past they've asked for transactions as large as 3000BTC but have not been able to give them an estimate on timing until now.  So far with the people I've picked up it looks like this is going to work out perfectly.

Edit: Just ran some quick numbers and looks like im trading around 4900BTC a week.

[Garr255]

- min deposit is 50 btc, what is the max deposit that you could still afford to pay interest on?
- is there any minimum term, or can i just deposit for 1 day, take my 1% and withdraw?
- does interest compound daily, or only accrue on the principle?

thanks.

[pirateat4O]

- min deposit is 50 btc, what is the max deposit that you could still afford to pay interest on?
- is there any minimum term, or can i just deposit for 1 day, take my 1% and withdraw?
- does interest compound daily, or only accrue on the principle?

thanks.

I really don't have a max number, I'm talking with the buyers today to see what kind of volume they are looking for. But from pass conversations they need more than I've been able to provide.

Sure you could just hang around for 1 day. You would not see your interest payment for the 1 day until the payout date, two days later. So sure its possible.

Interest does not compound during the three days, but I have a couple people that choose to just reinvest the interest payments.

[ssbtoday]

can I start with 1 btc?

[eroxors]

Most excellent thread! rofl

[pirateat4O]

can I start with 1 btc?

[KSV]

sounds interesting, but fishy. . . 

[pirateat4O]

sounds interesting, but fishy. . . 

Agreed, otherwise it could be one big ponzi scheme. its too bad the Bently dealership doesn't take BTC.